$20m 7ha Darra site set for residential development

Huon Property Group has purchased a 7ha infill residential development site in Darra, Queensland, for $20 million. 

Plans for the site include a multi stage residential community, subject to council approval.

The site is currently zoned for low-medium density residential development.

Developable area of approximately 6.5ha.

The site is a surplus portion of the Connectwest Industrial Park at 242 Englefield Road in Darra.

Dan Toh, Chairman of the RunningStream Group said the site in Darra is clearly aligned to our values and we look forward to providing residents of this community with a positive outcome in terms of quality and price. 

The property was marketed via an expressions of interest campaign by Brendan Hogan and Adam Rubie of Colliers International in conjunction with Mark Creevey and Tony Williams of Ray White Special Projects.

Brendan Hogan sad they received a record of 174 enquiries during the campaign, and 20 offers from a range of private and public groups, based both locally and offshore.

“The strength of the middle ring in Brisbane is evident, as we are experiencing unprecedented demand from groups looking for infill development opportunities to build townhouse and land projects,” he said.

Tony Williams of Ray White Special Projects said the interested parties were also attracted to the fact that the seller will create the title and deliver an approved, serviced, cleared and compacted site ready for development.

“The opportunity to acquire a 7ha vacant residential site within Brisbane LGA is rare, especially when it is located in close proximity to a variety of shopping, educational, community, public transport and recreational facilities," he said.